Arizona State Retirement System Has $441,000 Position in Marqeta, Inc. (NASDAQ:MQ)

Arizona State Retirement System lifted its stake in Marqeta, Inc. (NASDAQ:MQ) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,397 shares of the company’s stock after acquiring an additional 2,860 shares during the quarter. Arizona State Retirement System’s holdings in Marqeta were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of Marqeta by 7.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 46,670 shares of the company’s stock worth $174,000 after acquiring an additional 3,155 shares during the last quarter. Primecap Management Co. CA increased its stake in shares of Marqeta by 0.7% in the third quarter. Primecap Management Co. CA now owns 488,300 shares of the company’s stock worth $2,402,000 after acquiring an additional 3,627 shares during the last quarter. KBC Group NV increased its stake in shares of Marqeta by 68.8% in the fourth quarter. KBC Group NV now owns 22,546 shares of the company’s stock worth $85,000 after acquiring an additional 9,186 shares during the last quarter. Atria Investments Inc increased its stake in shares of Marqeta by 32.7% in the third quarter. Atria Investments Inc now owns 37,485 shares of the company’s stock worth $184,000 after acquiring an additional 9,235 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Marqeta by 11.2% in the fourth quarter. Handelsbanken Fonder AB now owns 106,100 shares of the company’s stock worth $402,000 after acquiring an additional 10,700 shares during the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Marqeta Price Performance

MQ stock opened at $4.10 on Friday. Marqeta, Inc. has a 52-week low of $3.37 and a 52-week high of $6.44. The company has a 50-day moving average of $3.84 and a two-hundred day moving average of $4.30. The stock has a market capitalization of $2.07 billion, a price-to-earnings ratio of 205.00 and a beta of 1.49.

Marqeta (NASDAQ:MQ) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.05. Marqeta had a net margin of 2.86% and a return on equity of 1.20%. The company had revenue of $135.79 million during the quarter, compared to analysts’ expectations of $132.71 million. Equities analysts expect that Marqeta, Inc. will post 0.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MQ has been the topic of a number of research reports. Wells Fargo & Company dropped their price target on shares of Marqeta from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 16th. Keefe, Bruyette & Woods decreased their price objective on shares of Marqeta from $5.00 to $4.00 and set a “market perform” rating for the company in a report on Monday, January 6th. Barclays reiterated an “equal weight” rating and issued a $4.00 price objective (down from $5.00) on shares of Marqeta in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Marqeta from $4.00 to $4.50 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Eleven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Marqeta has a consensus rating of “Hold” and an average target price of $5.33.

About Marqeta

Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and e-commerce enablement, as well as buy now, pay later.